BUSINESS

Coupang launches OneTouch Payment

By Kim Da-sol
  • Published : Jan 18, 2018 - 14:44
  • Updated : Jan 18, 2018 - 14:51
E-commerce company Coupang has launched OneTouch Payment, the first Korean mobile checkout system that allows online payment with a single touch, the company said Thursday.

Coupang’s OneTouch Payment     Coupang

Online payment options mostly require an additional authentication step, such as a password, fingerprint or security card. However, Coupang’s OneTouch Payment will allow users to simply click the “Pay” button to check out on its mobile app, the company explained.

OneTouch Payment is available to customers who pay with RocketPay (bank account transfer) or RocketMoney (reloadable payment service) via the app.

Coupang said it used big data technology and its own fraud detection system to process and learn users’ shopping patterns to enhance security.

“OneTouch Payment is secure and easy to use. The service will set a new bar for mobile payment for online shopping. We will continue to innovate to deliver better shopping experiences to Customers,” said Chung Bo-ram, senior director of fintech business and systems at Coupang.

One-click payment systems are widely used among global online shopping platforms such as Amazon and Apple. But the service had not yet been commercialized in Korea. 

The company said it has been expanding its team by hiring a diverse team of customer-obsessed financial technology developers. It currently has offices in Seoul, Beijing, Seattle, Shanghai and Silicon Valley.

By Kim Da-sol (ddd@heraldcorp.com)


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